business

I’ve been flooded with business questions, I want to share all that I can with you about my success and the key tips to remember about the business world.    

How do you start a business with not a lot of money?

Starting a business isn't cheap- plain and simple. Well let me rephrase: starting a business can be inexpensive, but if and when that business takes off then every little detail will be expensive: legal fees, trademarks, accounting, marketing etc. and these things are important because you don't want to have serious expensive problems later. Also, in the event that the business doesn't do well, spending good money after bad can get gnarly as well. Been there done that.

To begin, it is necessary that you have a lump sum of money set aside to start your business. You must have a set plan (that you may or may not actually stick to) for that money, otherwise you will spend as you go which is counter productive. A grand plan allows you to plan where you will allocate money rather than plugging holes along the way with smaller sums.

I've made this mistake, and with this and all of this advice I'm speaking from personal experience. Not all of my businesses have been smash hits. Bottom line: have some money and have at least a loose plan. This doesn't mean to be stunted and not move forward while attempting to create the perfect plan. Just have a road map. You may get diverted or have to stop at points but you can always refer back to the map.

How do you make yourself into a brand?

Building a "brand," which is the most overused and misused business term these days, takes fortitude, vision and passion. You and your business need to stand for something and you know exactly what that something is. You could describe it with a simple explanation. All of your business decisions should adhere to what your business stands for. This is where it gets tricky because taking side trips and doing things for easy money (what I refer to as the low hanging fruit) are tempting but ultimately bad decisions. These are the ones to steer clear from.

You should also know where your brand will be in years to come. Obviously things can change, but you should have a clear vision. Skinnygirl is a brand that provides practical solutions for women. Plain and simple. I don't do something if it doesn't adhere to that. This doesn't mean that men don't like my products. It simply means that I have chosen a lane, and for the most part, I stay in that lane.

What are the best business tips that everyone should know?

Don't grab for something/anything because you are trying to find your business calling. Do something that you are passionate about that you truly believe can be successful.

As I express in my book, A Place of Yes, never assume someone is smarter than you. I've had high-powered CEOs and agents guide me and they have been dead wrong about my career. You are ultimately alone in your business decision. You know what is right and what is best and taking that leap is scary, but it is your own.

  • User Avatar Nicole Mathew
  • Bethenny,

    Thanks for this post. I really appreciate how cut-and-dry you are when it comes to running a business. You have taught me how to not take sh*t from anyone and that if I really want to make something happen, I have to work hard to do it. I've been a fan of yours for years, and to see how successful you've become is amazing. You are an inspiration. Thanks for all you do!

    Best,
    Nicole
    http://nicolemathew.com

  • - Oct 11, 2011
  • User Avatar Lindsay Nixon
  • Thank you Bethenny, this is just what I needed to hear. Do what you do because you have passion and the rest will fall into place! That's my motto too! You inspire me and give me faith! I'm a healthy chef like you! I love, love, loved a place of yes! It gave me just what I needed to press on and finish my second cookbook.

  • - Oct 11, 2011
  • User Avatar Sheila Moody
  • Bethenny,

    I have read your book A Place of Yes. I really enjoyed reading your book and the solid advice that you gave. I have referred back to it while moving my Senior Care business along. 

    Warmest Regards,

    Sheila

    http://www.seniorhomecareusa.com

  • - Oct 11, 2011
  • User Avatar Cynthia Thompson
  • I want to thank you for sharing your good advice....Valuable and to the point no fluff or sugarcoating here....End results are what makes the pie even greater!!!! Passion is the key to any foundation without passion,dedication,devotion,desire, you have nothing!!!! 

    I admire your inspiration,

    Best Regards,

    Cynthia`````  

  • - Oct 11, 2011
  • User Avatar ajay rochester
  • BF you are my BFF in my head! Loved your book A place of yes and every day you are my inspiration. Check out my blog www.findingmymojo.com Everyone welcome!

  • - Oct 11, 2011
  • User Avatar Jennifer Baxter
  • Great advice and great insight.  I must say, you have been through the ringer and rung the hell outta the bell!  Good for you.  I, too, am working on a book and a second career that involves a heck of a lot of education and research.  It is absolutely the passion and the vision I have for this task that keeps me on track - and I believe in myself and in what I am doing.  I would like to add to your advice to women everywhere that having - actually sitting down and composing - a mission statement and a vision statement for your "brand" helps to keep someone focused on the target.  Those statements may be composed of very few words or multiple paragraphs, but keeping them to the point is important.  This was advice given to me by a graduate school professor who is, also, a psychologist.  It truly makes a difference in sticking to your game.

  • - Oct 14, 2011
  • User Avatar cynthia mernickle
  • Bethenny You are amazing, I love your sense of humor, it cracks me up .....not so much now I do not see you every week  hmmm :( you were becoming my favorite part of TV!

    My small business failed. I am at home now, I have 3 kids under 7yr old. I miss it, ahh the balance of family and work. I am one of your biggest fans, thanks for the laughs.

    Cynthia

  • - Oct 14, 2011
  • User Avatar Jewel Last name
  • This is soooooo inspiring...Well Said Bethenny!!

  • - Oct 14, 2011
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